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Net profit is Rs 300000. Interest on drawings is Rs 15000. Interest on capital is Rs 60000 salary is Rs 40000 and reserve is Rs 30000. What is the remaining profit?

Answer and explanation

Correct answer: Rs 185000

Interest on drawings is added to net profit and other appropriations are deducted. Rs 300000 plus Rs 15000 minus Rs 130000 equals Rs 185000.

Related tags

AppropriationRemaining ProfitExpertProfit DistributionPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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